Minister of Finance, Mohamed Maait, who is also Egypt's governor at the Asian Infrastructure Investment Bank, stated that the double taxation agreement between Egypt and Croatia reflects the commitment of both countries to enhance economic, trade, and investment relations while safeguarding tax rights.
According to the terms of the agreement, this amount can be converted into other currencies as needed to support the project's financing.
The $8 million project aims to supply the Egyptian labor market with a skilled workforce qualified to carry out jobs.
Egypt’s economic agreement with the IMF faces delays as the government seeks dollar liquidity and encounters challenges in meeting agreed requirements.
The new financing aims to protect macroeconomic stability and debt sustainability, improve Egypt's resilience to external shocks, strengthen its social safety net, and intensify reforms that support private sector-led growth and job creation.
Maait added that the government is also exploring financing options that include affordable loans from China and Japan.
The cabinet also approved in its weekly meeting a draft presidential decree regarding the exchange of letters between the Arab Republic of Egypt and the Government of the Kingdom of Spain, regarding a grant to finance a project to strengthen the capabilities of the Women’s Complaints Office.
The contract value is $656 million and includes two years warranty, in addition to maintenance work for a period of eight years in addition to a massive one-time overhaul for each train.
Worth $500 million, the deal is meant to boost Egypt’s efforts to help achieve food security and to strengthen the Egyptian economy in the face of repercussions of the war currently going on in Europe.
Egyptian Parliament approved Thursday three agreements that support health insurance system in the country, and Upper Egypt's development.
The signing of this agreement comes as a culmination of the meetings held between the two brotherly countries to expedite the completion of procedures related to investment in Egypt through the Saudi Public Investment Fund.
Borisenko noted that there are different levels of cooperation in these areas.
The agreement was inked with HSBC, UBS Group AG and Credit Suisse.
As per the new MoU, both sides would use an existing pipeline to transport hydrogen in the future.
This comes within the framework of the constant development of the joint economic relations between Egypt and China, as well as the strategic development cooperation relations
Molla added during the Egyptian Petroleum Association seminar that 384 wells were drilled, and more than 85 percent of the foreign partners' accrued dues from 2011 to June 2013 were paid.
The company said in a statement to the Egyptian Stock Exchange, Wednesday, that the fund manages $ 3.4 billion, is headquartered in Luxembourg, and has offices in France, New York and the Bahamas.
The contract is for a 10 year-period, and the total expected revenue for the contract period is 2.5 million dinars ($ 8.3 million).
The agreement signed in December 2020 includes resuming production at Damietta's natural gas liquefaction plant, and increasing EGAS' capacity to liquefy the plant.
The SPA worth $646 million with additional payments of up to $280 million between 2021 and 2024, contingent on the oil price and the results of further exploration.